The Australian dollar fell today, though the currency has rebounded from the day’s lows by now. The possible reason for the decline was deterioration of the consumer sentiment.
The Westpac-Melbourne Institute Index of Consumer Sentiment fell 4.8% in March after rising 4.3% in February. The report said:
The consumer mood deteriorated in March, sentiment falling to its lowest level since September 2017. With the index moving back below 100, pessimists again outnumber optimists. That contrasts with the âcautiously optimisticâ reads that prevailed throughout 2018 although at 98.8 the index is only âcautiously pessimisticâ and still above the average level recorded in 2017.
AUD/USD was flat at 0.7079 as of 17:32 GMT today after falling to the daily low of 0.7048 earlier. EUR/AUD was up from 1.5941 to 1.5963, while its session high was at 1.6011.
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